Long time regular readers of my blogs know that I have been accumulating stocks of DBS, OCBC and UOB.
The last time I did this on a relatively significant scale was in October 2022.
Over a few days, I increased my investments in OCBC by 11% and UOB by 19%.
Then, the local lenders' stock prices rose and I ceased accumulation.
I like to think that I was not suffering from an anchoring effect as I simply refused to pay higher prices to increase my stakes.
I just didn't think I would be getting as much value for money at much higher prices.
I was adding to my investment in OCBC at almost book value and paying a 5% or so premium to UOB's book value in October 2022.
With the stocks selling off, it now seems that I might have a chance to accumulate at those levels again.
This is a realistic expectation as trading volume has expanded...